LandCare has been sold to its management team and a small group of investors led by Scott Brickman, who will serve as chairman of the board.
“Our company is owned by landscape professionals that share a deep love for this industry. From our executive team to our branch managers, we will control our destiny and share in the value we create in the future,” said Mike Bogan, CEO of LandCare. “This is a milestone we have worked hard to achieve. We had tremendous partners in Aurora Resurgence, and we are thrilled to move forward with an ownership structure that ensures we keep our long-term vision to build and hold a company with a special culture centered around the employee experience and service to our customers.”
Scott Brickman, CEO of The Brickman Group from 1997 to 2012, shared “I am thrilled to be involved again in the industry I grew up in and love, and to back LandCare and so many of my old friends and associates. What excites me most is to be able to support and help guide an organization committed to a culture that puts its team members and customers first.”
LandCare posted $175 million in 2018 revenue and ranked 10 on Lawn & Landscape’s 2019 Top 100 list. The company has 52 branches in 20 states.
LandCare rebranded in 2015 under new leadership and has rebuilt the company from the ground up, according to Bogan. “It’s been a process, and we are still improving every day. I am proud of the team members from our service crews to our support staff and the work they have done to build a successful company. And I am so grateful to our former partners and the path they created for us to take ownership control of this business, ensuring LandCare has the opportunity to realize its full potential with a company that will always be driven by our core values.”
Created in 1999 through the merger of TruGreen and LandCare USA, TruGreen LandCare was the first national rollup, comprised of over 75 local and regional landscape companies. Under ServiceMaster, from 2000 to 2010, the company divested of several product lines to focus on commercial maintenance before its sale to private equity firm Aurora Resurgence in 2011. In late 2014, Aurora Resurgence hired industry veteran and former Brickman Executive Vice President Mike Bogan and rebranded as LandCare.
Terms of the transaction were not disclosed, though board member Andrew Fohrer, on behalf of Aurora Resurgence confirmed the investment was very successful for their firm. “LandCare was challenged initially, but the team assembled in 2015 drove tremendous operational and financial improvement and an outstanding result for our investors. We are happy for Mike, Scott and the management team to have the opportunity to assume ownership and lead the business through its next chapters.”
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